Pieting: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Pieting
Largest movements
- Receivables within one year -€38,123
down €38,123 (-31.7%), from €120,394 to €82,272
of which Other amounts receivable: -€28,778
- Cash +€10,399
up €10,399 (+391%), from €2,661 to €13,060
mainly Receivables within one year (+€38,123) and Depreciation (+€7,543)
- Tangible fixed assets -€7,543
down €7,543 (-11.1%), from €67,674 to €60,131
of which Plant, machinery and equipment: -€7,363
- Stocks and contracts +€7,000
up €7,000 (+9.1%), from €76,700 to €83,700
- Trade debts -€28,235
down €28,235 (-77.0%), from €36,674 to €8,439
- Debts after one year -€10,531
down €10,531 (-59.2%), from €17,789 to €7,258
- Tax, wage and social debts +€5,261
new in 2025: €5,261
- Accrued charges and deferred income +€3,219
new in 2025: €3,219
- Other debts +€2,691
new in 2025: €2,691
- Gross operating margin -€85,662
down €85,662 (-74.7%), from €114,667 to €29,004
- Financial charges -€13,340
down €13,340 (-47.8%), from €27,888 to €14,547
- Other operating charges +€5,972
up €5,972 (+301%), from €1,987 to €7,959
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €267,429 | €239,163 | -€28,266 | -10.6% |
| Fixed assets | 21/28 | €67,674 | €60,131 | -€7,543 | -11.1% |
| Tangible fixed assets | 22/27 | €67,674 | €60,131 | -€7,543 | -11.1% |
| Plant, machinery and equipment | 23 | €7,423 | €61 | -€7,363 | -99.2% |
| Furniture and vehicles | 24 | €180 | - | -€180 | |
| Other tangible fixed assets | 26 | €60,070 | €60,070 | = | 0.0% |
| Current assets | 29/58 | €199,755 | €179,032 | -€20,724 | -10.4% |
| Stocks and contracts in progress | 3 | €76,700 | €83,700 | +€7,000 | +9.1% |
| Stocks | 30/36 | €76,700 | €83,700 | +€7,000 | +9.1% |
| Amounts receivable within one year | 40/41 | €120,394 | €82,272 | -€38,123 | -31.7% |
| Trade receivables | 40 | €9,345 | - | -€9,345 | |
| Other amounts receivable | 41 | €111,050 | €82,272 | -€28,778 | -25.9% |
| Cash at bank and in hand | 54/58 | €2,661 | €13,060 | +€10,399 | +391% |
| Total equity and liabilities | 10/49 | €267,429 | €239,163 | -€28,266 | -10.6% |
| Equity | 10/15 | €142,849 | €141,765 | -€1,084 | -0.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | - | -€1,000 | |
| Issued capital | 100 | €1,000 | - | -€1,000 | |
| Contributions outside capital | 11 | - | €1,000 | +€1,000 | |
| Other | 1109/19 | - | €1,000 | +€1,000 | |
| Reserves | 13 | €288,988 | €288,988 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Legal reserve | 130 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €288,888 | €288,888 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,139 | -€148,223 | -€1,084 | -0.7% |
| Amounts payable | 17/49 | €124,581 | €97,398 | -€27,183 | -21.8% |
| Amounts payable after more than one year | 17 | €17,789 | €7,258 | -€10,531 | -59.2% |
| Financial debts | 170/4 | €17,789 | €7,258 | -€10,531 | -59.2% |
| Amounts payable within one year | 42/48 | €106,792 | €86,921 | -€19,871 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €70,118 | €70,531 | +€413 | +0.6% |
| Trade debts | 44 | €36,674 | €8,439 | -€28,235 | -77.0% |
| Suppliers | 440/4 | €36,674 | €8,439 | -€28,235 | -77.0% |
| Taxes, remuneration and social security | 45 | - | €5,261 | +€5,261 | |
| Taxes | 450/3 | - | €5,261 | +€5,261 | |
| Other amounts payable | 47/48 | - | €2,691 | +€2,691 | |
| Accrued charges and deferred income | 492/3 | - | €3,219 | +€3,219 | |
| Remuneration, social security and pensions | 62 | €331 | €71 | -€261 | -78.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,543 | €7,543 | = | 0.0% |
| Other operating charges | 640/8 | €1,987 | €7,959 | +€5,972 | +301% |
| Gross operating margin | 9900 | €114,667 | €29,004 | -€85,662 | -74.7% |
| Operating profit (loss) | 9901 | €104,806 | €13,433 | -€91,373 | -87.2% |
| Financial income | 75/76B | - | €31 | +€31 | |
| Recurring financial income | 75 | - | €31 | +€31 | |
| Financial charges | 65/66B | €27,888 | €14,547 | -€13,340 | -47.8% |
| Recurring financial charges | 65 | €27,888 | €14,547 | -€13,340 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €76,918 | -€1,084 | -€78,002 | |
| Profit (loss) for the period | 9904 | €76,918 | -€1,084 | -€78,002 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,918 | -€1,084 | -€78,002 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.